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Showing 451 - 460 of 475 results for "Remediation"

Independent expert lists CBA compensation challenges

LAURA MILLAN  |  FRIDAY, 19 DEC 2014
... release the second on May 2015. "The different nature of the [Open Advice Review] OAR program relative to previous remediation programs has raised challenges for CBA," the report said. Challenges include reaching out to all eligible customers and raising ...

ASIC pays commissioners $2.9m in 2014

LAURA MILLAN  |  THURSDAY, 30 OCT 2014
... actions, including 17 criminal proceedings with six imprisonments secured. It secured $2.7 million in compensation or remediation for investors and financial consumers. A total of 62 individuals were disqualified or removed from directing companies. ...

Suncorp completes insurance review after breaches

JAMES FERNYHOUGH  |  WEDNESDAY, 29 OCT 2014
Suncorp has finalised an independent review and remediation of compliance systems across its life and general insurance businesses. The Australian Securities and Investments Commission (ASIC) requested the remediation program in June 2013 after it received ...

BOQ reaches $17 million settlement with Storm victims

LAURA MILLAN  |  MONDAY, 22 SEP 2014
... net impact after tax to BOQ will be of $22.1 million, which includes all legal costs and additional provision for remediation costs, the bank announced in a statement to the Australian Securities Exchange (ASX). The settlement is subject to Federal Court ...

CBA looks for plaintiffs to assist in remediation process

LAURA MILLAN  |  MONDAY, 25 AUG 2014
Commonwealth Bank (CBA) is in advanced discussions with a number of plaintiff law firms that will act as independent consumer advocates in the Open Advice Review program to compensate victims of poor financial advice. CBA is expecting to announce the ...

Macquarie forced to contact all advice clients for remediation

LAURA MILLAN  |  FRIDAY, 15 AUG 2014
... not imposed license conditions on Macquarie in the first place, Kell said that "there's still a way to go with the remediation program." He said that if the EU does not prove to be effective, "there are significant options available to ASIC," including ...

Claims against advice arm have no factual basis: Macquarie

LAURA MILLAN  |  MONDAY, 4 AUG 2014
... schemes for clients affected by the CFPL scandal, the committee doubts ASIC is fully aware of the Macquarie business and remediation process," the report argued.

ASIC puts an end to PIS monitoring program

LAURA MILLAN  |  TUESDAY, 29 JUL 2014
... "with regulatory requirements for personal advice, the effectiveness of its advice audit and pre-vet functions and its remediation of poor advice," ASIC said. The Centrepoint-owned group previously had gone through an enforceable undertaking from December ...

Macquarie tight-lipped on EU details

LAURA MILLAN  |  FRIDAY, 25 JUL 2014
... The EU is subject to independent oversight by ASIC and KPMG as independent expert. The group also said that "client remediation approach based on consistent application of Financial Ombudsman Service principles and is subject to oversight by Deloitte ...

Macquarie rebukes advice, compliance concerns

LAURA MILLAN  |  TUESDAY, 8 JUL 2014
... schemes for clients affected by the CFPL scandal, the committee doubts ASIC is fully aware of the Macquarie business and remediation process," the Committee report argued.